"I feel their story lends itself perfectly to the stage," producer Paula Wagner told Liz Smith. "This project has been a passion of mine for some time and I couldn't be more thrilled to be working with them."

Let's hope this turns out better than 2006's "The Times They Are A-Changin'," which somehow made listening to Bob Dylan a white-knuckle nightmare and was mercifully shut down after less than a month.

Wagner and the two surviving members of the band, Joseph "Rev Run" Simmons and Darryl "DMC" McDaniels, have been meeting recently to check out some of the musicals currently on Broadway.

Wagner, herself a former Broadway actress, first made a name for herself as Tom Cruise's agent. The two went on to form Cruise/Wagner Productions in 1993, producing the "Mission: Impossible" franchise and several other Cruise vehicles.